Q1 MCQ Drill: 2020 Economics P1 (2020 NSC October/November National Examination)

Economics Past Paper Question 1 Drill Level 1: Knowledge & Recall

12:00

8 multiple-choice questions taken verbatim from Section A of the official 2020 NSC October/November National Examination Economics Paper 1, auto-marked against the official marking guideline. Questions that rely on diagrams or graphs are excluded - see the full paper for those.

Question 1 of 8 2 Marks

The difference in the value of the output at the peak and the value of the output at the trough of a business cycle is known as the …

A. length.

B. trend line.

C. amplitude.

D. real output.

Question 2 of 8 2 Marks

One of the member countries of the BRICS Protocol is …

A. Japan.

B. China.

C. England.

D. Italy.

Question 3 of 8 2 Marks

If the marginal propensity to consume (mpc) is 0,6 in a 2-sector model, the marginal propensity to save (mps) will be …

A. 4.

B. 6.

C. 9,4.

D. 0,4.

Question 4 of 8 2 Marks

Which ONE of the following is presented in October to inform parliament of changes in the budget since February?

A. Main budget

B. Medium-term Budget Policy Statement

C. Medium-term Expenditure Framework

D. National budget

Question 5 of 8 2 Marks

Long-term deposits of the domestic sector at monetary institutions are part of the … money supply.

A. M1

B. M2

C. M3

D. M4

Question 6 of 8 2 Marks

A supply reason for international trade is/are …

A. income levels.

B. preferences and tastes.

C. the size of the population.

D. labour resources.

Question 7 of 8 2 Marks

An interest rate that commercial banks offer to their most valued clients is called the … rate.

A. prime

B. repo

C. fixed

D. preference

Question 8 of 8 2 Marks

Which ONE of the following is classified as excise duties?

A. Tax on alcohol

B. Gun licence

C. Value-added tax

D. Personal income tax

Q1 MCQ Drill: 2020 Economics P1 (2020 NSC October/November National Examination)

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